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Himanshu maintains his books on single entry system. His position was as under on 1st January 2012 Cash in hand Rs 600; Cash at Bank Rs 11,000; Stock Rs 11,200; Debtors Rs 6,914; Furniture Rs 400; Sundry Creditors Rs 8,114. The position of Himanshu on 31st December 2012 was as follows: Cash in hand Rs 760; Cash at Bank Rs 4,800; Stock Rs 9,360; Debtors Rs 9,240; Furniture Rs 500; Creditors Rs 6,000. He withdrew Rs 13,000 from the business on 2nd January 2012 out of which he spent Rs 11,200 for purchasing of a motor-car for business. Taking the above into consideration, find out the profit of Himanshu. |
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Answer» Himanshu maintains his books on single entry system. His position was as under on 1st January 2012 Cash in hand Rs 600; Cash at Bank Rs 11,000; Stock Rs 11,200; Debtors Rs 6,914; Furniture Rs 400; Sundry Creditors Rs 8,114. The position of Himanshu on 31st December 2012 was as follows: Cash in hand Rs 760; Cash at Bank Rs 4,800; Stock Rs 9,360; Debtors Rs 9,240; Furniture Rs 500; Creditors Rs 6,000. He withdrew Rs 13,000 from the business on 2nd January 2012 out of which he spent Rs 11,200 for purchasing of a motor-car for business. Taking the above into consideration, find out the profit of Himanshu. |
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